08. 09. 17
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The Pakistan Economy Watch (PEW) on Thursday said the government should take steps to contain further contraction in the critical sector of workers remittances which is as important as exports.
Remittances have fallen by four percent in the last year, therefore, steps are needed to arrest the trend in the national interest, it said.
Concerned ministry, departments and law enforcing agencies should not discourage people involved in sending labour abroad as they are playing important role in keeping forex reserves stable, said Dr. Murtaza Mughal, President PEW.
He said that Private sector has to invest around fifteen billion dollars as input costs to realise exports of twenty billion dollars but expats spend their own money to go abroad send money without any involvement of the government.
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05. 09. 17
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Record loans of $35 billion were taken in a few years
Profitable entities were gifted to friends at dirt cheap price
The Pakistan Economy Watch (PEW) on Monday said former Prime Minister Nawaz Sharif and his economic managers damaged the national economy beyond repair.
They raised attractive slogans of rapid national development, but left the country under the severe debt burden while their own assets multiplied with an amazing speed, it said.
Now the economy can survive only with the help of IMF otherwise the country will face default in the ongoing fiscal, said Senior Vice President of PEW Kashif Iqbal.
He said that Nawaz administration took loans worth 35 billion dollars, which haven’t helped the economy or masses, but helped the finance minister to multiply his fortunes while many other politicians also plundered the national resources.
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01. 09. 17
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All the trade deals should be aligned to national interests
The Pakistan Economy Watch (PEW) only way to end dependence over IMF and pave way for national development is to improve the external sector.
Pakistan can never be a prosperous country unless its exports and more than the imports for which concrete steps are needed, it said.
The government should facilitate export sector while review all the free trade and preferential trade agreements, said Dr. Murtaza Mughal, President PEW.
He said that FTA with China is the single most damaging deal finalized by the government as interests of the country were compromised to benefit the business community of the friendly country.
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28. 08. 17
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The Pakistan Economy Watch (PEW) on Sunday asked the banks not to ignore small businesses and small farmers which are central to the national development.
It asked the commercial banks to facilitate SME sector and farmers with small holdings so that they can enhance their business which will move the slow process of growth.
Farming and SME sectors are best suited to reduce unemployment by providing jobs but some policies are hindering their growth which must be discarded, said Dr. Murtaza Mughal, President PEW.
He said that small and medium sized businesses and small farmers should be supported on the policy level and given preference in the provision of credit by the commercial banks.
Dr. Murtaza Mughal said that uninterrupted flow of finances are important for survival and expansion of these critical without which economy cannot be revived.
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24. 08. 17
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The Pakistan Economy Watch (PEW) on Wednesday asked the Prime Minister Shahid Khaqan Abbasi to move forward the stalled privatization process.
The bleeding state-run enterprises are wasting hundreds of billions of rupees annually which can be saved be selling these corporations, it said.
Former prime minister Nawaz Sharif promised to sell loss-making enterprises but he preferred to sell some profitable concerns which raised many eyebrows, said Dr. Murtaza Mughal, President PEW.
He said that at this juncture our country cannot afford the luxury of wasting over Rs500 billion annually on inefficient state-run-enterprises.
The money raised through the disposal of the infected assets can be used on welfare projects which are seeing cuts since years, he added.
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21. 08. 17
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Foreign reserves are depleting at an accelerated speed
The Pakistan Economy Watch (PEW) on Sunday asked the government to stem fall in forex reserves and exchange rate.
Fall in value of rupee against US dollar and falling reserves that are now around 14 billion dollars, has raised concerns among the masses and the business community, it said.
Serious efforts should be made to save hard-earned gains achieved by the county after taking tough actions under the last International Monetary Fund (IMF) loan program, said Dr. Murtaza Mughal, President PEW.
An immediate action is required otherwise the situation might go out of control exactly at a time of general elections next year with no other option but to seek another bailout package from the IMF, he added.
Dr. Murtaza Mughal said that the value of rupee has nothing to do with the export competitiveness and erosion in the exchange rate has a very little and temporary impact on the exports.
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16. 08. 17
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Bold decisions unlikely in the election year
The Pakistan Economy Watch (PEW) on Tuesday blamed that PML-N led government for avoiding meaningful economic reforms for many years which has resulted in a difficult situation.
The former Prime Minister Nawaz Sharif avoided reforms despite the insistence of experts and foreign institutions while the current administration cannot afford difficult decision due to the election year, it said.
Increasing imports, reduced exports, swelling current account deficit and absence of foreign investment has added to the deficit which has touched alarming proportions, said Dr. Murtaza Mughal, President PEW.
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09. 08. 17
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Sugar crisis bring created to mint money
Govt asked to take strict action against profiteers
The Pakistan Economy Watch (PEW) on Tuesday demanded stern action against sugar mills mafia which is blackmailing the Government, consumers and farmers.
Sugar mills have stopped the supply of the commodity in Karachi and some other places to force government for export subsidy and make extra money.
This has resulted in the prices of sugar to rise in the market which is benefiting the mafia controlling the supply of the product in the country, said Dr. Murtaza Mughal, President PEW.
The same mafia has stopped payment to sugarcane farmers in different areas of the country making life difficult for them, he added.
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07. 08. 17
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Islamabad Chamber of Small Traders on Sunday asked the government to resolve the circular debt which has swelled to Rs800 billion posing serious threat to the economy.
Currently, the government is focusing on LNG which is cheaper than the hydel power but open to fluctuation in the international market, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.
He said that government should pay proper attention to the hydel power projects that generate cheap electricity and it is immune from external shocks.
Shahid Rasheed Butt said that power plants using imported fuel generate costly electricity while fluctuations in the oil prices result in miseries of the masses.
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05. 08. 17
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CDA harassing local and foreign investors
The Pakistan Economy Watch (PEW) on Friday asked the CDA to refrain from harassing the business community of the Capital city on false pretexts.
CDA officials have planned to mint money from the business community by blackmailing them which should be noticed, it said.
The department has issued notices to hundreds of owners of commercial properties to make verandas in their buildings otherwise CDA will demolish the buildings and recover the cost from the owners of the properties which is illegal, said Dr. Murtaza Mughal, President PEW.
He said that hundreds of local and multinational companies are operating in buildings which are without verandas as its construction is not mandatory.
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04. 08. 17
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Arrest on charges of tax evasion to damage image of FPCCI, country
The Pakistan Economy Watch (PEW) on Thursday asked the president FPCCI to immediately resign from his post as he can be arrested any time which will damage the image of FPCCI and the country.
Nab has filed a reference against President FPCCI Zubair Tufail, his son, brother and others for evading tax and the accused can be arrested anytime, it said.
SM Muneer, the leader of United Business Group should not prefer to support his blue-eyed over the interests of the country, said Kashid Ibbal Gondal, SVP, PEW.
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02. 08. 17
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The Pakistan Economy Watch (PEW) on Tuesday called upon the authorities to promote agriculture and livestock sectors to life rural communities out of poverty.
The agricultural sector is considered the backbone of the economy which is largest employment provider while eighty percent of exports are linked to it but it is not getting due attention, it said.
Modern methods are being ignored while inputs are being increased to boost production which is increasing the cost of doing business while continued neglect has reduced share of agriculture on the GDP, said Dr. Murtaza Mughal, President PEW.
He said that it is next to impossible to ensure national development while keeping agricultural development on the back burner which is the mainstay of the economy.
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31. 07. 17
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The Pakistan Economy Watch (PEW) on Sunday called upon the authorities to support the ignored sector of handicrafts which can help lift millions out of poverty.
Pakistan can generate handsome amount of foreign exchange by promoting handicraft sector which is mainly concentrated in the province of Sindh however other provinces cannot be ignored, it said.
The government can promote this sector while private sector should invest in the handicrafts industry and turn it into a lucrative and profitable sector, said Dr. Murtaza Mughal, President PEW.
He said that there is a great demand for locally made handicrafts in the international market, therefore, this sector should be promoted which is directly linked with the skilled women.
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17. 07. 17
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Low-quality teachers a threat to society, economy
The Pakistan Economy Watch (PEW) on Sunday said education is no longer an attractive profession for teachers which is a threat to the country.
Teachers suffer from general lack of respect and bad questionable working conditions which has forced many to opt for other profession resulting in increased gap in demand and supply which is a threat to country’s future, it said.
The state-run education has become dysfunctional while private institutions continue to exploit teachers more profit, said Dr. Murtaza Mughal, President PEW.
Contrary to the business world the education and academic workforce enjoy very limited opportunities with no chance of changes on the horizon, he added.
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10. 07. 17
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IMF has always helped corrupt to hide stolen funds
The Pakistan Economy Watch (PEW) on Sunday said IMF has added to the miseries of the third world and helped transfer their wealth to the west.
The policies of the international lending institutions are not short of financial terrorism pushing developing countries to bankruptcy to achieve unholy designs of the western nations, it said.
Many countries are reeling under pressure despite getting billions of dollars in loans while some have been bankrupted due to negative policies of the lending institutions that prefer objectives of the US and some European countries over everything, said Dr. Murtaza Mughal, President PEW.
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05. 07. 17
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Karachi Traders Alliance on Tuesday questioned claims of the government regarding economic development terming it an eyewash.
Production, exports, exchange rate and production continue to fall while the country is progressing in slogans, crimes, uncertainty and acquiring loans, said Ayaz Memon Motiwala, Chairman of Karachi Traders Alliance.
He said that reports of State Bank of Pakistan regarding economy are not based on facts but a deception which is against professional ethics.
Talking to Dr. Murtaza Mughal, President Pakistan Economy Watch, he said that trade deficit for the current fiscal will swell to 33 billion dollars while foreign exchange reserves are down by three billion dollars.
Mr. Motiwala said that reasons behind record trade deficit include falling exports, increased imports, want of enabling laws and energy crisis.
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03. 07. 17
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The Pakistan Economy Watch (PEW) on Sunday said the country is spending billions of dollars on the import of agricultural products which indicate the want of enabling policies.
Pakistan can save billions of dollars annually by encouraging domestic agricultural sector which is in a shamble, it said.
We are spending over two billion dollars on the import of edible oil only which can be saved if domestic production is promoted, said Dr. Murtaza Mughal, President PEW.
Over two million tonnes of annual edible oil imports costs around $ 2.4 billion making it second largest import after petroleum products, he added.
Dr. Murtaza Mughal said that that proper farming, production, processing and marketing will not only reduce dependence on imports but also help earn foreign exchange.
He said that despite being an agrarian economy we are unable to produce sufficient edible oil which leads us to spend a substantial amount of foreign exchange at a time when country badly needs it.
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29. 06. 17
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PEW fears economic meltdown as trade deficit widens
The Pakistan Economy Watch (PEW) on Wednesday said that government seems uninterested in the economic revival as it has focused all its attention on the politics since it came to power.
Government continue to avoid reforms and unpopular decisions since years and it is unlikely that it will do something in the election year, it said.
Government and opposition are not concerned with the economic revival, they are pushing their own agenda which is leading country towards a default, said Dr. Murtaza Mughal, President PEW.
He said that the trade deficit in the first eleven months has surpassed thirty billion dollars but the government has not done little to prevent the economic meltdown.
Government or other political parties have yet to suggest a concrete framework of policies to improve overall growth rate and to ensure that all regions and segments of society reap the fruits of a booming economy, he added.
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19. 06. 17
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The Pakistan Economy Watch (PEW) on Sunday said that trade deficit of first eleven months of the current fiscal has reached to thirty billion dollars calling for urgent steps to reduce expenses.
The government should take some meaningful steps to reduce the deficit while the process should begin with the sale of Pakistan Steel Mills, PIA, power companies and other bleeding enterprises, it said.
Transformation of state-owned assets into the property of persons independent of the state will help government raise funds, reduce losses, cut the budget deficit, improve exchange rate and boost the ailing economy, said Dr. Murtaza Mughal, President PEW.
He said that privatization is an integral part of the on-going process of economic reforms which must be carried out very carefully to identify and remove things which are compromising national growth.
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15. 06. 17
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Budget failed to revive confidence of investors and exporters
Govt more interested in politics putting economy on the back-burner
The Pakistan Economy Watch (PEW) on Wednesday said economic managers have pushed the country to the brink of default as the export-import gap has jumped to the unprecedented 30 billion dollars.
The situation worsening by the passage of every day but the government seems to be more interested in politics, it said.
In the current economic scenario, getting loans from the banks is not sustainable as it continues to burden exchequer and it is not a substitute to the exports, said Dr. Murtaza Mughal, President PEW.
He said that budget has failed to address the concerns of important sectors as the textile, overseas investors, construction, stock exchange, corporate sector, multinationals and various chambers of commerce have rejected the budget and started protests.
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12. 06. 17
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Problem in Pakistan is not availability of food but its price
The Pakistan Economy Watch (PEW) on Sunday demanded steps to ensure food security as the problem in Pakistan is not linked to the availability of food but its prices which are out of the reach of many.
It expressed reservations over government response to the looming food security threat as global problems have exacerbated food insecurity across the globe.
Government should increased investment to ensure food security for the whole population many of whom are finding it difficult to get adequate food, said Dr. Murtaza Mughal, President PEW.
He said that Government must launch comprehensive food security survey so that policymakers can plan on the basis of ground realities.
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09. 06. 17
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Pakistan will hugely benefit from Beijing’s initiative
The Pakistan Economy Watch (PEW) on Thursday said China’s One Belt One Road (OBOR) project have so far brought 68 countries together across three continents.
Asia, Europe, Africa and Latin America are coming closer which is a very good omen for world’s peace and prosperity, it said.
Chinese are focused on Asia with Pakistan and Central Asian states getting more benefits than others countries which is not acceptable for some countries, said Dr. Murtaza Mughal, President PEW.
He said that the Silk Road has existed for thousands of years, it enriched the countries it passed through and now it is being revived.
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07. 06. 17
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Immediate action against builders, withdrawal of special tax demanded
The Pakistan Economy Watch (PEW) on Tuesday said the builders and developers cheated government on the issue of tax, therefore, an action should be taken against leaders of this sector.
Last year government imposed some taxes on this sector which resulted in massive protests after which the leaders of the construction industry assured the government that tax collections would be increased if their demands are accepted, it said.
Subsequently, the government accepted their demand to bring this sector into special tax regime as the builders promised to boost tax collection to 25 billion rupees, said Dr Murtaza Mughal, President PEW.
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05. 06. 17
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The Pakistan Economy Watch (PEW) on Sunday said State Bank continue to cheat masses to please the government which has dented its credibility.
It asked the State Bank of Pakistan to present true picture of the economy and refrain from issuing political statements.
The statement of the governor of central bank regarding country’s debt-servicing capacity, remittances and exports are questionable at best, said Dr. Murtaza Mughal, President PEW.
He said that confidence in the central bank is essential for the smooth functioning of the financial system therefore job of issuing rosy statements should be left to the politicians.
Dr. Murtaza Mughal said that the governor of SBP has termed fall in remittances and exports as temporary which widening deficit has been downplayed which is contrary to the ground realities.
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22. 05. 17
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Globalisation has failed to improve the world
The Pakistan Economy Watch (PEW) on Sunday said the theory of globalisation has failed as more and more countries are preferring protectionism over free market economy.
Chinese economic model which is not based on exploitation will soon replace western model which is based on exploitation, it said.
The One Belt One Road Project of which CPEC is an important component is the beginning of end of western dominance, said Dr. Murtaza Mughal, President PEW.
He said that globalisation has failed to achieve objectives like eradicating poverty while it worsened the problem by throwing world into acute crisis, he added.
Dr. Murtaza Mughal said that globalization failed to increase integration and interdependence of national, regional and local economies.
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17. 05. 17
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The Pakistan Economy Watch (PEW) on Wednesday expressed apprehension over rising circular debt which is to compromise growth and hit masses with power outages in the summer.
Circular debt has become a big threat to the image, credit rating and economic survival of the country which merits urgent attention, it said.
Dr. Murtaza Mughal, President PEW said that circular debt is hitting industrial expansion, investment in Thar coal and other energy projects and pushing away investors.
Circular debt worth Rs414 billion has reduced power generation by private sector leaving them unable to but fuel to run power plants of repay bank loans which masses are suffering from heat.
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15. 05. 17
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The Pakistan Economy Watch (PEW) on Sunday said despite severe problem of food security tonnes of food is daily wasted in the country.
Government should ensure proper storage facilities and food waste management system in the country to overcome losses, it said.
Food is wasted in all the countries of the world which if saved through intervention can eradicate hunger from the globe, said Dr. Murtaza Mughal, President PEW.
He said that food grown over 1.4 billion hectares, an area larger than China, is wasted annually which also lay waste to all the investment.
He said that wastage of food also waste all efforts and around 250 cubic kilometres of water stoking global food insecurity and hunger.
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10. 05. 17
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Dysfunctional power sector damaging econom
yThe Pakistan Economy Watch (PEW) of Tuesday said government should pay proper attention to the hydel power projects that generate cheap electricity.
Power plants using imported fuel generate costly electricity which fluctuations in the oil prices results in miseries of the masses, it said.
The energy sector has become dysfunctional because of the apathy of the successive government since Musharraf times, said Dr. Murtaza Mughal, President PEW.
He said that energy crisis in Pakistan is result of decades of indifference and it cannot be resolved any time soon and it will continue to damage masses and the economy.
He said that dysfunctional power sector continue to deprive 35 percent of population of grid electricity while the 65 percent have been facing loadshedding.
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08. 05. 17
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Currency should not be devalued to support exports
The Pakistan Economy Watch (PEW) on Sunday said exports, investment and remittances continue to fall hitting forex reserves which will result in another IMF loan.
Continued fall in exports since three years despite efforts of the government and private sector will result in lost export markets, it said.
Exports are falling while imports have gone out of control due to liberal import regime which is creating serious problems for economy, said Dr. Murtaza Mughal, President PEW.
The export officials waste time and money and later blame energy crisis to absolve themselves of all the responsibility, he added.
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01. 05. 17
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Differences over KBD in Indian interest
The Pakistan Economy Watch (PEW) on Monday said Thar coal is the best and cheapest solution to overcome chronic energy crisis in the country.
Difference over Kalabagh dam are against the national interests and in the interest of India that wants to destabilise Pakistan, it said.
Thar coal is the most economical solution for ensuring energy security therefore it should be exploited and Chinese involvement should be enhanced, said Dr. Murtaza Mughal, President PEW.
He said that extra attention should be paid to exploit the treasure buried in Thar as the economy continue to suffer due to power outages.
Dr. Murtaza Mughal, President PEW said that Thar cola can ensure energy security, help cut oil import bill, earn forex reserves and provide jobs to millions of unemployed.
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25. 04. 17
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The Pakistan Economy Watch (PEW) on Monday said unnecessary secrecy on economic corridor is against the national interests as it is harassing the business community.
Government should trust its subjects and divulge full details of the project so that local and foreign investors can participate in it, it said.
Different Chinese companies are getting massive tax breaks which while there is so much concealment in the whole affair that a governor of the central bank had to speak in public about lack of knowledge about the project, said Dr. Murtaza Mughal, President PEW.
He said that different Chinese companies have been given tax breaks for over two decades which include exemptions from income tax, sales tax, excise duty, customs duty, withholding tax etc.
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14. 04. 17
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Customers not enthusiastic about imported gas
The Pakistan Economy Watch (PEW) on Thursday questioned decision of the Cabinet to lift ban on new domestic and industrial gas connections terming it a flawed decision.
The decision has raised questions about the LNG policy and the efficiency of the power sector, it said.
Government has lifted ban on new gas connections which was imposed during 2011 as the supply of imported gas has increased while demand in insignificant, said Dr. Murtaza Mughal, President PEW.
He said that as a rule governments bound customers for purchase and then import gas but in Pakistan the LNG import deal was signed before finding the customers.
The imported gas is costly therefore customers are not using it willingly and delaying paying the bills which was resulting in circular debt therefore ban was lifted.
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06. 04. 17
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No power can defeat Pakistan on economic front
Pakistan enjoys trust of international institutions
Prime Minister Nawaz has ensured rapid economic progress in the country which was on the brink of bankruptcy three years ago, a political leader said Wednesday.
Pakistan’s economy has been stabilised due to serious efforts and now no power can defeat Pakistan on the on economic front, said Muhammad Aslam Kuchela, former MNA and member of PML-N Provincial and General Council.
Talking to Dr. Murtaza Mughal, President of the Pakistan Economy Watch, he said that many powers are against the economic corridor but it would be completed well in time which will be the beginning of a new era of peace and prosperity.
Prime Minister Nawaz Sharif has introduced policies that are being lauded by dozens of international institutions which is a great achievement, he said, adding that irrespective of inherent weaknesses our private and public sectors have made great strides.
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02. 04. 17
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Nobility should be forced to pay taxes to win war against terror
The Pakistan Economy Watch (PEW) on Sunday said unjustified taxes on fuel continue to hurt masses and economy therefore the same should be reduced.
High prices of fuel has become an incentive for smugglers who are thriving on low prices of oil and gas in Iran and Afghanistan, it said.
Border arrangements have failed to deter the smugglers as fifteen to twenty percent petrol consumed in Pakistan is said to be smuggled from neighbouring countries, said Dr. Murtaza Mughal, President PEW.
He said that smuggling of LPG continue to increase grabbing around thirty percent of the local market putting survival of local producers at stake as involvement of big fish cannot be ruled out.
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27. 03. 17
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Fuel prices can be reduced if FBR start targeting nobility
The Pakistan Economy Watch (PEW) on Sunday said prices of petroleum products in the country are far more than the international market which is hurting masses and every segment of the economy.
Petroleum prices can be reduced if FBR starts taxing nobility which will automatically reduce pressure on the poor masses, it said.
Government has no other option but to heavily tax the petroleum imports which is chocking the economic growth, said Dr. Murtaza Mughal, President PEW.
He said that all the important petroleum products are attracting double digit taxation which has penalised the masses. Situation can take a positive turn if corruption is reduced in the tax administration.
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20. 03. 17
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The Pakistan Economy Watch (PEW) on Sunday said water scarcity is emerging as a grave threat to the survival of the country but policymakers seems to be unconcerned.
Pakistan is facing an acute water shortage and may hit masses, agriculture and industry soon, it said.
In last few years the defence budget has been significantly increased to combat terrorism ignoring the fact that water scarcity could be a bigger menace than terrorism, said Dr. Murtaza Mughal, President PEW.
In a statement, he said that our country touched the “water stress line” in 1990 and crossed the “water scarcity line” in 2005 but it was not enough to draw attention of the policymakers.
Dr. Murtaza Mughal said that if steps were not taken to combat the situation country is likely to face drought-like situation in the near future.
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16. 03. 17
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Ogra fulfilling objectives of stock brokers illegally
The Pakistan Economy Watch (PEW) on Wednesday said gas companies are punishing masses with the help of Ogra by charging masses for the losses during gas distribution and theft.
Ogra has allowed gas companies to charge masses for 4.5 percent of their losses but now the companies are trying to push up the ratio of losses to nine percent to generate more profit for their shareholders, it said.
Ogra has become a tool in the hands of some of the directors of the gas companies who are also influential stockbrokers, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that gas companies should reduce corruption and stop penalising masses for their mismanagement.
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13. 03. 17
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The Pakistan Economy Watch (PEW) on Sunday said government should focus on the agricultural development and the poor man’s sector should not be allowed to fall prey to profiteers.
Among all the main sectors of the economy, agriculture is the most neglected in terms of investments and development therefore farmers are among the poorest people in the country, it said.
of farmers who make a living by generating most of the country’s food supply and not supported to come out of the poverty, said Dr. Murtaza Mughal, President PEW.
said that agriculture is one of the “real” sectors to which the society’s poorest belong but it has been ignored for long time.
contribution to the economy has continued to dwindle due to unequal distribution of investments which is one of the biggest mistakes of the successive governments, he said.
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05. 03. 17
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Govt planning to introduce mini budget to cut deficit
The Pakistan Economy Watch (PEW) on Sunday said that FBR is harassing honest taxpayers to meet the revenue target which should be noticed.
The tax authorities should be chasing those who enjoy princely lives and avoid paying any tax, it said.
Government is planning to introduce mini budget to fill the revenue gap which will be unfortunate, said Dr. Murtaza Mughal, President PEW and his Senior Vice President Kashif Iqbal Gondal.
They said that mini budget will hit businesses, masses and the tax structure which is already working against the desire of the stakeholders.
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27. 02. 17
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Technology to boost energy efficiency to help save billions
The Pakistan Economy Watch (PEW) on Sunday lauded the Government for paying proper attention to resolve the energy crisis.
Many new power projects are in the pipeline which is laudable but at the same time transmission and distribution system should also be upgraded, it said.
Govt should introduce proper energy conservation measures and get latest technology to boost energy efficiency which will help it save billions of dollars, said Dr. Murtaza Mughal, President PEW.
He said that energy efficiency can help save thousands of megawatt of electricity, millions of litres of fuel and great volume of natural gas as many nations are spending billions to become energy efficient.
Almost half of the electricity consumed in buildings can be saved for which we need to follow conservation laws adopted in the EU, he added.
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24. 02. 17
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association of teachers of the Quaid-i-Azam University (QAU) has asked the administration to take action against registrar who was involved in gross violation of the rules and regulations.
Dr. Asif Ali, President FAPUASA, Islamabad Chapter and former President Academic Staff Association, QAU, Islamabad, has said that charges of corruption have been proved against Dr. Shafiq-ur-Rehman, the Registrar of QAU by the inquiry committee but the syndicate has set aside the findings of the inquiry committee which amounts to promoting corruption.
Talking to Dr. Murtaza Mughal, President Pakistan Economy watch, Dr. Asif accused that the syndicate did not bothered to even glance through the inquiry report.
Dr. Shafiq-ur-Rehman not only got illegal promotion in BPS-21 but was also illegally secured appointments for ineligible individuals on key positions in the university administration to strengthen his authority.
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17. 02. 17
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The Pakistan Economy Watch (PEW) on Thursday lauded the government for taking action against illegal chambers of commerce terming it a great step in the right direction.
Some chambers of commerce are being ruled by families and groups where decisions are not taken on merit which must be discouraged, it said.
There are some chambers of commerce that discourage the real representatives of the business community, dishearten the genuine businessmen and spread false information which affects the economic development, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that Director General Trade Organisations (DGTO) has taken a bold step by dissolving the body governing Mardan Women Chamber of Commerce and Industry (MWCCI).
He said that elections were never held in that chamber while the members were not submitting their tax returns while its administration had avoided paying government fees.
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12. 02. 17
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Services of Al Shifa Trust Eye Hospital lauded
Two bodies join hands to serve masses
Al Shifa Trust Eye Hospital President General (retd) Hamid Javed has announced free eye screening and treatment facilities for the students of schools being run by Nazaria-i-Pakistan Trust.
The decision was reached in a meeting between General Hamid Javed and Dr. Murtaza Mughal, President of Pakistan Economy Watch and World Columnist Club. Executive Director of the hospital Brigadier Rizwan Asghar was also present on the occasion.
AT the occasion, General Hamid Javed said that we are establishing a new hospital for the children suffering from eye-related problems at the cost of one billion rupees in which fifty surgeries would be carried out per day.
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06. 02. 17
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US move can hit trade deals, peace in the region
The Pakistan Economy Watch (PEW) on Sunday said fresh US sanctions on Iran can hit plan of Pakistan to import gas from Iran.
The Trump administration hit Iran with new sanctions following the test-firing of a medium-range ballistic missile, an action the White House says is in defiance of a U.N. resolution.
The American move can also hit trade deals between Pakistan and Iran and have a negative impact on the overall situation in the region, it said.
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30. 01. 17
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Food loss wasting billion of investment annually
The Pakistan Economy Watch (PEW) on Sunday demanded steps to reduce wastage of food as tens of millions of people including children and mothers continue to face food security issues in Pakistan.
Proper storage and food waste management system in the country can help increase income of farmers and feed the starving people, it said.
Tonnes of food is wasted in all the countries of the world including Pakistan which if saved can eradicate hunger from all the globe, said Dr. Murtaza Mughal, President PEW.
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11. 01. 17
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Export target will be missed again sans meaningful reforms
The Pakistan Economy Watch (PEW) on Tuesday asked the government to discourage all imports except machinery for CPEC and industrial sector as half yearly trade deficit has jumped to 14.5 billion dollars.
Trade deficit has reached to an alarming level of 17.6 percent in the six months threatening annual target of 20.5 billion dollars, it said.
The deficit for whole year may hit the mark of 25 billion dollars due to falling exports and increased imports, said Dr. Murtaza Mughal, President PEW.
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09. 01. 17
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Govt asked to help struggling textile industry
The Pakistan Economy Watch (PEW) on Sunday said future of textile industry seems bleak therefore government should take urgent steps to save it from collapse.
Textile is very important sector of the economy, it is the largest forex earning sector which is providing jobs to million in urban areas while millions of planters are also linked to it, it said.
Top government functionaries have repeatedly promised provision of energy on reduced cost, payment of refunds and resolution of problems but to no avail, said Dr. Murtaza Mughal, President PEW.
He said that seventy percent of large textile units are located in Punjab and thirty percent of these units are closed due to scarcity of energy hitting exports and jobs which should be noticed.
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02. 01. 17
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Timely completion of gas-based power projects demanded
Petroleum Minister Abbasi termed a national asset
The Pakistan Economy Watch (PEW) on Sunday said we have matchless potential to produce electricity with the help of solar and wind but it is not getting due attention.
Pakistan can not only produce electricity sufficient for national needs but also export power saving oil import bill and earning foreign exchange.
The world has entered in the golden era of gas therefore the share of gas in the energy mix should be enhances, said Dr. Murtaza Mughal, President PEW.
He said that government should take steps to keep at least twenty percent difference in the prices of petrol and CNG while all the projects to generate electricity from gas should be completed on a fast track.
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28. 12. 16
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Toothless regulators leave masses on the mercy of Govt, investors
The Pakistan Economy Watch (PEW) on Tuesday said government decision to leave five regulators important will have an impact on the reputation of the country.
The decision to bring five key regulatory bodies under concerned ministries will raise questions about transparency, hit the image of the country internationally while striking the confidence of the investors.
Government has taken the surprising decision recently despite the fact that it had agreed with IMF and World Bank to give more autonomy to the regulators, said Dr. Murtaza Mughal, President PEW.
The government promised additional powers to the regulators before getting loan and now it has taken a U-turn which will contribute to the deterioration in the institutions, he added.
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